Eur/usd - page 461
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
No need to open a live account to learn Forex. Using our demo account, you can practice forex trading in a risk-free environment - for free!
*MT4 trading platforms
*Up to $500,000 demo balance
*Up to 1:1000 leverage
*Real-time market quotes
*24/5 Customer Support
It only takes a few minutes to register for a demo account.
Eurozone June CPI final mm +0.2% vs +0.2% exp
Eurozone June CPI final reading 15 July 2016
EUR/USD forecast for the week of July 18, 2016
The EUR/USD pair initially tried to rally during the course of the week but failed again near the 1.12 level in order to form a bit of a shooting star. I think we will eventually break down, and therefore it’s probably only a matter time before we sell off. However, there is a lot of noise in this marketplace, so having said that I feel that the markets will be easier to short based upon shorter time frames as opposed to the weekly chart. Expect choppiness, so long-term trading will be almost impossible.
EUR/USD Weekly Outlook: ECB & EU Data in Focus in Coming Days
The European calendar gets going on Tuesday with the German ZEW surveys for July and a big slowdown is expected here, mainly due to the Brexit-vote aftermath.
The euro zone's current account for May is due on Wednesday and the big surplus is expected to continue, supporting the euro on currency markets. Moreover, German PPI indices will also be published.
The main focus will be on Thursday's European Central Bank monetary policy decision. There are no changes predicted and therefore the main rate should stay at 0.00% and the deposit rate at -0.4%.
However, the following press conference will be important, because Mario Draghi might sound dovish, or on the other hand, totally neutral, which would benefit the single currency.
Friday will bring flash manufacturing and services PMIs for July across the euro zone, along with Italian sales for May. All of the euro zone PMIs are projected to weaken from June levels.
Forex - EUR/USD weekly outlook: July 18 - 22
The euro fell sharply against the dollar and the safe haven yen late Friday as risk aversion spiked after Turkey’s prime minister said an attempted military coup was under way.
EUR/USD fell 0.83% to 1.1029 in late trade and EUR/JPY was down 1.22% at 115.74 after segments of the military took over key bridges in Istanbul and attacked parliament buildings in Ankara.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose 0.62% to 96.7.
Demand for the dollar had been boosted earlier Friday as upbeat economic reports out of the U.S. and China bolstered risk appetite.
Week Ahead: Rangy EUR/USD To Test The 'Draghi Put'
We are worry that investors have got ahead of themselves wishing for helicopter money in Japan. Indeed, such a policy would likely necessitate legislative changes and political commitment that go well beyond the current Abenomics plans.
Investors may be correct in assuming that dovish is the default setting of the global central banks, and we think that next week’s ECB meeting will reiterate the view that the ‘Draghi put’ is firmly in place. That said, we also believe that easier global financial conditions post Brexit and improving US data give the Fed an opportunity to normalise rates before long. Any indication of that in the coming days may come as a rude awakening for the markets, which see no rate hikes before 2018.
EUR/USD should remain range-bound, caught between easing Brexit fears and persistent policy-divergence headwinds.
We remain bullish on USD against CAD and NOK as we expect the oil outlook to deteriorate further.